Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws are designed to prevent criminals from using property transactions to disguise illegal funds or move money through hidden financial channels.
Because property transactions are high-value and complex, the sector has been identified as vulnerable to financial crime.
Your role in property transactions will require you to become a 'reporting entity' under the Anti-Money Laundering and Counter-Terrorism Financing Act, requiring you to verify the identity of your sellers and your buyers and report any suspicious activity related to each transaction.
Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) reforms will apply to every real estate professional involved in property transactions and the consequences for non-compliance are significant.
The reforms represent a fundamental shift in how real estate business is conducted in Australia and will directly impact your day-to-day operations.
From 31 March 2026, all real estate agencies must be registered with AUSTRAC. This must be done before 29 July 2026 at the latest.
No, Austrac have confirmed that leasing and property management activities are not captured under these reforms.
REIQ Members can access personal advice on Anti-Money Laundering requirements from our Agency Advisory Service. Submit your Request Here.
31 March 2026 - Austrac enrolments opened.
1 July 2026 - AML CTF obligations commence.